HEXO (NASDAQ:HEXO) Shares Gap Down to $5.90

HEXO Corp. (NASDAQ:HEXO) shares gapped down before the market opened on Friday . The stock had previously closed at $5.62, but opened at $5.90. HEXO shares last traded at $5.72, with a volume of 179409 shares trading hands.

A number of research analysts have recently weighed in on HEXO shares. Beacon Securities reissued a “buy” rating on shares of HEXO in a research report on Tuesday, February 19th. Bank of America started coverage on shares of HEXO in a research report on Wednesday, April 17th. They set a “buy” rating for the company. CIBC started coverage on shares of HEXO in a research report on Tuesday, February 19th. They set an “outperform” rating and a $7.00 target price for the company. Jefferies Financial Group started coverage on shares of HEXO in a research report on Monday, February 25th. They set an “underperform” rating for the company. Finally, Oppenheimer started coverage on shares of HEXO in a research report on Tuesday, February 19th. They set an “outperform” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $8.63.

HEXO (NASDAQ:HEXO) last released its earnings results on Wednesday, March 13th. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. The company had revenue of $10.09 million for the quarter, compared to the consensus estimate of $10.01 million.

Several hedge funds have recently made changes to their positions in HEXO. The Manufacturers Life Insurance Company purchased a new stake in shares of HEXO during the 1st quarter valued at approximately $13,581,000. FIL Ltd purchased a new stake in shares of HEXO during the 1st quarter valued at approximately $4,691,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of HEXO during the 1st quarter valued at approximately $4,191,000. Morgan Stanley purchased a new stake in shares of HEXO during the 1st quarter valued at approximately $4,062,000. Finally, Bank of Montreal Can purchased a new stake in shares of HEXO during the 1st quarter valued at approximately $3,439,000.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by Rockland Register and is the sole property of of Rockland Register. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://rocklandregister.com/2019/06/14/hexo-nasdaqhexo-shares-gap-down-to-5-90.html.

HEXO Company Profile (NASDAQ:HEXO)

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

Featured Article: What does a market perform rating mean?

Receive News & Ratings for HEXO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HEXO and related companies with MarketBeat.com's FREE daily email newsletter.